💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

German jobless falls in March despite protracted lockdown

Published 03/31/2021, 04:12 AM
Updated 03/31/2021, 04:55 AM
© Reuters. FILE PHOTO: A sign leading to a job centre of Germany's Federal Labour Office is pictured in Munich

BERLIN (Reuters) -German unemployment fell in March, data showed on Wednesday, as lockdown measures to curb the coronavirus in Europe's biggest economy had a limited effect on the labour market.

The Federal Labour Office said the number of people out of work fell by 8,000 in seasonally adjusted terms to 2.745 million. The unemployment rate remained unchanged from the previous month at 6.0%.

Germany is struggling to control a third wave of the pandemic and has been in lockdown since November although some measures were eased in early March with schools and hairdressers re-opening.

"We saw a noticeable spring recovery in March despite the rising (coronavirus) infections and the constraints for some areas of the economy," said Labour Office Chief Detlef Scheele.

"Overall, however, the labour market continues to show signs of the crisis that has lasted a year," he added

© Reuters. FILE PHOTO: A sign leading to a job centre of Germany's Federal Labour Office is pictured in Munich

Some 2.85 million employees were on shortened working hours in January under a government scheme designed to avoid mass layoffs during the downturn by offering companies subsidies to keep workers on the payroll.

The number of people on the scheme peaked at about 6 million last April but has been rising steadily since November, said the Office.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.